Tesla's Vehicle Deliveries Experience Major Decline in Early 2024 Due to Various Factors

Electric vehicle innovator Tesla faced a decline in car deliveries in recent months compared to the end of 2023, marking its largest drop in years. The company cited various factors contributing to this decrease.

According to Tesla, production delays at its Fremont factory for the new Model 3 version played a role in the lower delivery numbers. Additionally, setbacks caused by incidents in the Red Sea and a factory fire near Berlin impacted production. Despite producing 47,000 more cars than delivered, the gap is typically narrower.

Industry analysts told Bloomberg that Tesla may be facing challenges in its key markets of the US and China. Increased competition from affordable Chinese brands in China and price reductions from competitors in the US have likely affected Tesla's sales. These are preliminary findings, with Tesla's complete quarterly data expected in three weeks.